Common use of ASSET BASED TERMS IN EFFECT Clause in Contracts

ASSET BASED TERMS IN EFFECT. During all periods in which the Asset Based Terms are in effect, Parent (on a consolidated basis) shall comply with the following covenant as of the end of each month: Minimum Tangible Net Worth: Parent (on a consolidated basis) shall maintain a Tangible Net Worth of not less than $10,500,000 (the "Minimum Tangible Net Worth"), as of the end of each month, provided that, at the end of each fiscal quarter of the Borrower, commencing with the fiscal quarter ending March 31, 2003, the Minimum Tangible Net Worth requirement shall be increased by 100% of the net income of the Parent (on a consolidated basis) for such fiscal quarter, but the Minimum Tangible Net Worth requirement shall not increase to greater than $17,000,000. Said increased Minimum Tangible Net Worth requirement shall be effective as of the end of such fiscal quarter, and shall continue in effect thereafter. In no event shall the Minimum Tangible Net Worth requirement be decreased. " , hereby is amended and restated in its entirety to read as follows:

ASSET BASED TERMS IN EFFECT. During all periods in which the Asset Based Terms are in effect, Parent (on a consolidated basis) shall comply with the following covenant as of the end of each month: Minimum Tangible Net Worth: Parent (on a consolidated basis) shall maintain a Tangible Net Worth of not less than $10,500,000 13,000,000 (the "Minimum Tangible Net Worth"), as of the end of each month, provided that, at the end of each fiscal quarter of the Borrower, commencing with the fiscal quarter ending March 31September 30, 20032002, the Minimum Tangible Net Worth requirement shall be increased by 100% of the net income of the Parent (on a consolidated basis) for such fiscal quarter, but the Minimum Tangible Net Worth requirement shall not increase to greater than $17,000,000. Said increased Minimum Tangible Net Worth requirement shall be effective as of the end of such fiscal quarter, and shall continue in effect thereafter. In no event shall the Minimum Tangible Net Worth requirement be decreased. " , hereby is amended and restated in its entirety to read as follows:.